Covid-19: We lost 50 percent advert revenue - FCTA
The dreaded coronavirus pandemic may have had its toll on revenue generation in the nation’s capital, as FCT Administration says it has lost more than 50percent revenue from outdoors advertisement and signages alone.
The Director, Department of Outdoors Advertisement and Signages, DOAS, Dr Babagana Adam, said within the first quarter of 2020, the Department was generating over a hundred and fifty million naira monthly before the shutting down of all revenue collection and other activities in the FCT and the country because of the COVID-19 pandemic.
Adam, in a recent chat with journalists in Abuja said, “We are almost at N150millions monthly, because December, January, February, we hit the scale of N100million. That's mean we are getting it right.”
“You know if you are scoring one goal per game and end up scoring three goals per game, your average score is higher. So this is how I will describe how COVID-19 has affected us from a hundred and fifteen million a month in December, January and February and even Match, we became affected to about 50 percent,” Adam disclosed.
Speaking further on how COVID -19 affected Internally Generated Revenue, IGR, from the department, the director explained that, " you are almost touching the cloud then all of a sudden you return to the mountain top, you see is a great devastation, this is because as a department establish by the law, as a department that works with people with human face you can't at this pandemic period go and ask even your revenue that is genuine during the lockdown. So in the month of April, March and June, virtually there is no revenue drive.
“That is why in the month of July we are sited together to work as essential components of the FCT administration to see how we will catch up with the time lost.”